As we heard earlier, ESPN's Chris Broussard reports that the Raptors are in the market for a point guard and have been in talks with the Suns about moving Sebastian Telfair (Twitter link). Additionally, this ESPN report (which credits Broussard and Marc Stein) says that Toronto also has interest in Timberwolves' guard Luke Ridnour and Eric Maynor of the Thunder.
Since dealing Jose Calderon, the Raptors' point guard rotation has consisted of Kyle Lowry and John Lucas III. While Lucas has been productive as of late (scoring in double figures in the team's last four games), his assist numbers have been low enough to understand why Toronto could be looking to add a pure playmaker off the bench.